Underwriting smart insurance shares tomorrow
According to Monetary Financial News, the press conference “One Meeting, One Offering” for underwriting shares published by Hooshmand Insurance Company was held today on the OTC market of Iran. Goals and investments in this area. Mahmoud Amrollahi also spoke about tomorrow’s smart insurance innovations, financial goals and human resources, introducing shareholders and their benefits for the insurance industry.
According to the OTC Communications Management of Iran, the representative of the founding board of Smart Insurance Farda in this press conference stated that the production premium in the world in 2020 was 6287 billion dollars and in Iran it was 1.93 billion dollars, he said: in 2020 per capita The insurance premium is $ 809 in the world and $ 229 in Iran. The insurance penetration rate in the world is 7.4 percent and in our country is 2.52 percent, which shows that the insurance industry in Iran is far from the world average in terms of indicators.
According to Amrollahi, production premiums in Iran over the past 10 years have shown an average growth of 30% and from 5900 billion tomans in 1389 to 82 thousand billion tomans in 1399.
He stated that the per capita production premium in Iran is not favorable compared to other countries in the region, he said: Focusing on better supply of products and services and focus on non-compulsory insurance needed by society can improve this ranking; Because according to unofficial statistics, about 90% of the lives, property and responsibilities of people in the country do not have insurance coverage or have insufficient coverage.
He pointed out that in terms of insurance penetration rate in the region, Iran ranks fourth, said: 1404 vision goals in the country’s insurance industry include the development of specialized insurance, increasing the share of life insurance to 50% and insurance penetration rate to 7% .
The representative of the founding board of Smart Insurance Farda said about increasing the insurance penetration coefficient in Vision 1404: The insurance penetration coefficient in Vision 1404 is predicted to be number 7, which according to the penetration coefficient number in 1399, this number needs to increase about 3 times.
He mentioned the strategies for dealing with the changes in the world insurance industry in three areas: “use-based insurance”, “facilitating the process of compensation and payment of damages” and “providing digital experience” and added: items such as providing services based on consumption rate The type of demand, the creation of new channels with a focus on speed in dealing with damages and the empowerment of the representative network with digital tools are among the solutions to face the changes in the world insurance industry.
Smart Insurance Tomorrow is a digital insurer
Amrollahi said that Smart Insurance will be a digital insurer tomorrow. Creating an ecosystem of stakeholder collaboration and utilizing automation, data mining, and artificial intelligence are some of the ways we are on the agenda to become a digital insurer.
The representative of Farda Smart Insurance Founding Board stated the macro strategies of Farda Smart Insurance in four main components: “Finance”, “Customers”, “Processes” and “Development and Learning” and continued: For example, in the financial field of Farda Smart Insurance Program Market development will focus on the sale of small and short-term insurance in the market and in large numbers; In the field of customers, the main goal is to improve the customer experience through the use of digital tools and solutions, and in the processes, the main goal is to digitize service delivery processes at all levels and service delivery chains, especially in the field of online and instant damages.
He said that tomorrow’s smart insurance investments will be focused on areas that, in addition to covering annual inflation and high liquidity, these investments can also guarantee long-term returns, in accordance with the limits and rules of Iran’s Central Insurance Regulations.
According to Amrollahi, tourism sectors, knowledge-based companies, healthcare, energy and mining are the areas of tomorrow’s smart insurance investment.
“Tomorrow” benefits for the insurance industry
In another part of the meeting, the representative of the founding board of Smart Insurance Farda discussed the advantages of this insurance company such as comprehensive insurance system, access to huge amount of data to analyze customer behavior for data-driven decisions and offer personalized offer, shareholders with insurance technical experience and long-term business. The IT department mentioned the existence of micro-customers nationwide and the provision of global customer access services, including an untouched rural market of at least 20 million people.
Programs for participating in the insurance industry
Amrollahi described the company’s plans in the field of property insurance, such as connecting to various postal systems, fire brigade, law enforcement and real estate to expedite the issuance of insurance, review and payment of damages and provide services based on customer demand and in a short period of time and added: In the field of car insurance, health insurance and life insurance, we are also trying to use new and efficient methods to differentiate and be productive in these sectors.
It should be noted that the subscription of shares under the issuance of smart insurance for 30 days in the OTC market will start tomorrow, December 8th. The number of transferable shares is one billion and 250 million shares with a nominal value of 100 Tomans per share.
Source: Iran OTC Communications Management